Generator Sales Market Trends, Share, Size, Opportunity and Forecast by 2027
According to IMARC Group’s latest report, titled “ Generator Sales Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 .’ the global generator market reached a value of US$ 19.30 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.07 Billion by 2027, exhibiting at a CAGR of 5.3% during 2022-2027. A generator represents a machine that converts mechanical energy to provide an optimum amount of electrical power. It usually comprises an engine, charger, central control, alternator, voltage regulator, fuel system, main assembly, cooling and exhaust system, etc. In line with this, a generator is widely used in commercial and residential areas to offer emergency power and survive prolonged power outages. Presently, leading manufacturers are introducing advanced generators that automatically switch on when the local power grid turns off. Consequently, they are gaining extensive traction across countries. Request a Free PDF Samp